To establish a fund for emergency aid that will provide Member States with funding to co-finance their additional requirements in the process of scrapping fishing vessels affected by plans for the recovery of fish stocks which are in danger of collapse.

2) ACT

Council Regulation (EC) No 2370/2002 of 20 December 2002 establishing an emergency Community measure for scrapping fishing vessels [Official Journal L 358 of 31.12.2002].

3) SUMMARY

Within the framework of the implementation of the plans for the recovery of fish stocks some fleets will have to reduce their fishing effort. In addition to the aid provided for the scrapping of fishing vessels more than 10 years old, the European Union allocates further support for scrapping fishing vessels to Member States which have had their fishing capacity reduced by 25% or more. Aid already provided to the owners of vessels under the Financial Instrument for Fisheries Guidance (FIFG) will be increased by 20% in such cases.

For the year 2003, Member States are to submit to the Commission, before 30 June, a forecast of expenditure under the emergency measures for decommissioning vessels. The European Commission will then proceed with the necessary commitments in the budget. Member States must submit their applications for payment of their expenditure to the European Commission before 30 June 2004. The Commission will then distribute the funds among the Member States according to the respective impact of the recovery plans. In this case, 50% of the expenses will be paid following receipt of the application and the remaining 50% will be due after the Member States have provided evidence of the scrapping of the vessel.

From 2004 until 2006, following the reprogramming of the Structural Funds, this funding will be integrated into the Financial Instrument for Fisheries Guidance programmes.